Hurricane Harvey Relief Efforts: Several members and friends of the AAA-CPA have contacted us and suggested ways to respond as an Academy to help our members and others who may be suffering because of this tragedy. Please click here to read the joint statement from AAA-CPA President Eric J. Rollinger and The Attorney-CPA Foundation President Patti M. Richards on how we can join together and help.

AAA-CPAAAA-CPA is pleased to announce that AB Bernstein has become an Education Sponsor of the 2017 Fall Meeting & Education Conference. “AB Bernstein is delighted to support the mission of AAA-CPA by sponsoring the 2017 Fall Meeting & Education Conference. We look forward to sharing knowledge and experiences with the high-caliber professionals that attend this conference”. Please click here to read the full press release.

AAA-CPAThursday, Sept. 7Protecting Digital Assets
Presented by Joshua S. Miller, Esq., CFP®, and Amy R. Lonergan, Esq.
This program will discuss the importance of managing digital property and cybersecurity risk as an integral part of estate planning and wealth management. Proper cybersecurity is critical to prevent online fraud, financial theft and identity theft. We will offer several precautions clients can and should take to protect their digital assets, as well as tips on planning for digital assets in the context of an estate plan, and an overview of current law on this important and evolving topic.

Tuesday, Sept. 12New Partnership Audit Regulations
Presented by James Lynch, Esq., CPA
Join us for a discussion of the new IRS regulations on partnership audits. We will discuss the TEFRA rules (old rules) and the new rules. We will compare and contrast the two sets of rules. Finally, we will discuss the effect of the new rules on tax practice.

By Jason B. Freeman, J.D., CPASensitive audits present the tax practitioner with unique challenges. They require the exercise of judgment and discretion, as well as an understanding of administrative procedure and even a command of constitutional and evidentiary rules. At times, they may also require that the practitioner carefully balance duties to a client with their own ethical and legal obligations. Sensitive audits come in several forms. An “eggshell” audit, for instance, is a civil audit that has the potential to turn criminal. There are lurking issues — potential tax fraud or evidence of other legal violations such as money laundering or structuring — that the auditor may discover. A “reverse eggshell audit” involves a civil tax audit that is being conducted alongside a parallel criminal investigation. Sensitive audits may also involve undisclosed parallel investigations by other state or federal agencies.READ MORE

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BloombergThe second quarter of 2017 was another good one for corporate profits in the U.S. By one of the several measures tallied by the Bureau of Economic Analysis in its gross domestic product report, those profits poured in at an annualized rate of $2.27 trillion before taxes and $1.79 trillion after. READ MORE

ForbesLiving in California has many perks, but the state's 13.3 percent rate is the highest marginal tax rate in the nation. When you add up to 39.6 percent federal taxes, it can hurt, especially for those who cannot deduct their state taxes against their federal. READ MORE

NavPresident Donald Trump delivered his pitch on tax reform in Missouri recently, calling for reduced complexity in the personal tax code.
“This enormous complexity is very unfair,” he said. “It disadvantages ordinary Americans who don’t have an army of accountants, while benefiting deep-pocketed special interests.”READ MORE

AccountingWEB Financial advisers and firms have improved their cybersecurity measures since a 2014 assessment, but more still are needed, according to a recent report by the U.S. Securities and Exchange Commission. Ironically, the commission’s own watchdog says the same thing about the SEC.
READ MORE

Hartford CourantAmazon, Uber, Airbnb and other 21st-century avatars of the new economy have upended consumer behavior and disrupted entire industries.
But the state's tax code remains rooted firmly in the 20th century, reflective of an era when shopping malls were dominant, ride-hailing apps didn't exist and the idea of sleeping in a stranger's home had yet to catch on.READ MORE

New York PostIf you still wonder why President Donald Trump won the election last November, take a look at some stunning new data on taxes.
Turns out that U.S. households last year paid more, on average, in personal taxes (mostly federal, state and local income taxes) than for food and clothing combined, Bureau of Labor Statistics data show.READ MORE